Quotes from 29th Fair Conference, Mumbai Media Partner: The Insurance Times

Reflections on the Fair Conference:

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Mo'men Mukhtar Secretary General Federation of the Afro-Asian Insurers & Reinsurers, FAIR

Reflections on the Fair Conference:

The 29th FAIR Conference in Mumbai marked an important milestone for the Federation of Afro-Asian Insurers & Reinsurers (FAIR), both in terms of participation and substance. The discussions under the theme "Emerging Markets - Towards Resilient Growth" demonstrated the increasing maturity of our markets and the shared ambition to strengthen resilience amid global uncertainty.

The sessions reflected the industry's ability to adapt, whether in navigating political and currency volatility, adopting innovative risk transfer tools, or aligning reinsurance strategies with national development goals such as India's IRDAI Vision 2047. One of my key takeaways is that emerging markets are no longer peripheral participants in the global insurance landscape; they are shaping it through innovation, regulation, and collaboration.

Key Trends and Developments in Afro-Asian Insurance and Reinsurance:

Across Afro-Asian markets, several trends are reshaping the industry:

• Regulatory modernization is accelerating, with many jurisdictions revisiting frameworks to balance innovation with prudential oversight.

• Climate and catastrophe risks are gaining attention, prompting new models of cooperation in data sharing, capacity building, and regional pools.

• Digitalization and inclusive insurance continue to expand, supported by the growth of InsurTech and the increasing role of microinsurance.

• Reinsurance localization is also on the rise, with markets investing in local and regional capacity to reduce dependency on global cycles.